BrightSpring Health Services (NASDAQ:BTSG) Hits New 1-Year High – Here’s What Happened

BrightSpring Health Services, Inc. (NASDAQ:BTSG)’s stock price hit a new 52-week high on Thursday . The company traded as high as $56.97 and last traded at $56.50, with a volume of 2794990 shares traded. The stock had previously closed at $55.50.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BTSG. Zacks Research raised shares of BrightSpring Health Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Cantor Fitzgerald set a $49.00 price target on shares of BrightSpring Health Services in a research report on Monday, March 2nd. UBS Group upped their price target on shares of BrightSpring Health Services from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Stephens upped their price target on shares of BrightSpring Health Services from $53.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, KeyCorp upped their price target on shares of BrightSpring Health Services from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $56.29.

BrightSpring Health Services Trading Up 1.8%

The stock has a 50 day moving average of $45.37 and a 200-day moving average of $39.98. The company has a market capitalization of $10.96 billion, a P/E ratio of 40.07, a P/E/G ratio of 0.76 and a beta of 1.71. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 1.24.

BrightSpring Health Services (NASDAQ:BTSG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. BrightSpring Health Services had a return on equity of 14.63% and a net margin of 2.27%.The firm’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. On average, research analysts predict that BrightSpring Health Services, Inc. will post 1.64 EPS for the current year.

Insider Activity at BrightSpring Health Services

In related news, CFO Jennifer A. Phipps sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $41.15, for a total transaction of $1,440,250.00. Following the completion of the transaction, the chief financial officer directly owned 196,840 shares in the company, valued at approximately $8,099,966. The trade was a 15.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lisa A. Nalley sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $41.15, for a total value of $1,234,500.00. Following the transaction, the insider owned 110,594 shares of the company’s stock, valued at approximately $4,550,943.10. This trade represents a 21.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 285,000 shares of company stock worth $11,727,750. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On BrightSpring Health Services

A number of hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its stake in shares of BrightSpring Health Services by 142.9% in the first quarter. Sei Investments Co. now owns 483,912 shares of the company’s stock worth $20,620,000 after acquiring an additional 284,678 shares during the period. Globeflex Capital L P bought a new position in BrightSpring Health Services in the 1st quarter worth approximately $250,000. State of Wyoming boosted its stake in BrightSpring Health Services by 4.5% in the 1st quarter. State of Wyoming now owns 7,776 shares of the company’s stock worth $331,000 after purchasing an additional 336 shares during the period. Cetera Investment Advisers boosted its stake in BrightSpring Health Services by 13.9% in the 1st quarter. Cetera Investment Advisers now owns 9,765 shares of the company’s stock worth $416,000 after purchasing an additional 1,191 shares during the period. Finally, Militia Capital Management LLC bought a new position in BrightSpring Health Services in the 1st quarter worth approximately $568,000.

BrightSpring Health Services Company Profile

BrightSpring Health Services (NASDAQ: BTSG) is a leading provider of home and community-based care and workforce solutions aimed at seniors, individuals with disabilities and those facing behavioral health challenges. The company’s operations encompass a broad spectrum of services, including personal care, skilled nursing, therapy, habilitation and supported living, as well as specialized behavioral health programs delivered through both clinical and non-clinical channels.

Through its network of subsidiary brands, BrightSpring offers integrated care in the patient’s home environment, fostering independence and improving quality of life.